Breaking: NNPC Insists It Bought Petrol From Dangote Refinery At ₦898 Per Litre

The Nigerian National Petroleum Company Limited (NNPC Ltd) and Dangote Refinery are at odds over the price of petrol purchased from the latter.

On Monday morning, NNPC Ltd’s Chief Corporate Communications Officer, Olufemi Soneye, reaffirmed that the company acquired petrol from Dangote Refinery at ₦898 per litre.

This disclosure follows a previous statement by NNPC, which has now been disputed by the refinery.

In a response late Sunday, Dangote Refinery labelled NNPC’s claim as “misleading and mischievous.” Anthony Chiejina, the refinery’s Group Chief Branding and Communications Officer, criticized the statement as an attempt to undermine the refinery’s role in mitigating Nigeria’s energy shortages.

Chiejina urged Nigerians to disregard the “malicious statement” and await a formal pricing announcement from the Technical Sub-Committee on Naira-based crude sales, appointed by President Bola Tinubu, set to begin on October 1.

Chiejina’s statement did not reveal the actual price at which Dangote Refinery sold petrol to NNPC Ltd, but he highlighted that the refinery’s crude stock was procured and sold in dollars, yielding savings compared to current imports.

Despite this, Soneye maintains that the price of ₦898 per litre is accurate, asserting that market forces now dictate domestic pump prices.

Speaking with Premium Times, he said, “If the price isn’t ₦898, then what is it? We would be happy to receive a discount. Throughout the day, various figures have been circulating—some claiming ₦1,300, Punch reported around ₦767, and another outlet mentioned ₦500. It’s our responsibility to clarify the facts. The truth is, the government is not setting fuel prices, nor is NNPC Ltd. It’s a deregulated market where prices are determined by market forces.

“Let them tell you their price. I stand by my earlier comment. Will you allow customers to carry your product without price agreement?”